1. Can the Registrar strike off a limited liability partnership? Read More -->

Tags: defunct partnership

There are two kinds of voluntary liquidation: Read More -->

Tags: llp, voluntary liquidation

A voluntary arrangement is when a limited liability partnership makes an agreement with its creditors by proposing a ‘composition in satisfaction of its debt’ or a ’scheme of arrangement of its affairs’. This means an arrangement, approved by the court, in which the limited liability partnership has formally agreed terms with its creditors for the settlement of its debts. Read More -->

Tags: llp, voluntary arrandement

The Registrar cannot restore a limited liability partnership to the register without a Court Order. When the Registrar receives an office copy of the Court Order for restoration, a limited liability partnership is regarded as having continued in existence as if it had not been struck off and dissolved. Read More -->

Tags: llp restoration

Appointed by or on behalf of the holder of a floating charge, a receiver has the power to sell or otherwise realise the charged assets of the limited liability partnership in an attempt to repay the debt owed to the charge-holder. Read More -->

Tags: llp, receivers

Compulsory liquidation of a limited liability partnership is when the limited liability partnership is ordered by a court to be wound up. Read More -->

Tags: compulsory liquidation

A charge is security for the payment of a debt or other obligation that does not pass ‘property’ or any right to possession to the person to whom the charge is given. Read More -->

Tags: registration of charges

An auditor is a person who makes an independent report to a limited liability partnership’s members as to whether its annual accounts have been properly prepared in accordance with the Act. The report must also say if a limited liability partnership’s accounts give a true and fair view of its state of affairs and profit and loss for the year. Most limited liability partnerships are required to have their accounts audited - see question below. Read More -->

Tags: appointment of auditors, llp, removal of auditors

A mortgage is security for the payment of a debt or other obligation that passes ‘property’ but no right to possession to the person to whom the mortgage is given. Read More -->

Tags: charges, mortgages

There is total exemption from audit for certain small limited liability partnerships if they are eligible and wish to take advantage of it. Further details about how to claim exemption are in this section. Read More -->

Tags: audit exemptions